Save Money on Interest with 0% Credit Card Offers, Rewards Cards and Prepaid Cards this Christmas.



The Holiday shopping season is now upon us. In these tough times we need to look for creative ways to save money. A 0% introductory rate credit card is a very good way to finance you shopping season this year. You might not be able to afford to pay for all your gifts at once; however, if you have good credit, there is a great chance that you will qualify for a 0% Credit Card. Many credit card companies offer great introductory rates such as 0% to entice customers. A creative, responsible individual can use this money to purchase gifts and pay them back during the introductory rate.

The Capital One Platinum card is a great example of many 0% credit card offers that [Capital One] offers. This great {credit card offer} allows you 6 months with no interest on all purchases. Spend $500 on gifts and break up your payments however you want over those six months and get away with paying no interest on your Holiday shopping purchases. Be sure to plan your payment schedule well. If you are expecting your year end bonus in January of 2009 make sure you contribute as much as possible to your {credit card} debt. If you are not expecting a bonus, break up your payments into 6 monthly payments and pay off your debt. Should you make your payment religiously, you will be free and clear of any interest charges. This card is meant for those with average or better credit.

The Capital One Platinum also comes with other perks that you will enjoy as well. Take advantage of their rewards program and enjoy up to 40% off purchases made on Yahoo Shopping. The non-introduction interest rate is very good as well. They are currently charging 8.9% on all purchases made after the introductory period. Be very careful with late payments. Late payment may affect your interest rates. For balances more than $250, the late fees are $39.

A prepaid credit card can also save you money if you know how to use it. You can use your prepaid credit card to make online purchases. Shopping online saves time and gas as well in addition to finding great buys. No more waiting in lines at the checkout counter or even fighting traffic and looking for a parking space should you shop online. The All Access Visa Prepaid Credit Card} is a great card to use for your online purchases. You will not have to pay any interest using your prepaid cards either. If you opt to pay the monthly fee of $9.95, Visa will not charge you the $.50 per transaction fee. You can even take advantage of using their free savings account which is paying a very decent 5% rate. Your prepaid card will also help you stay within your budget. Your remaining balance will determine how much you have spent this Holiday season should you use your {prepaid credit card}.

Also be sure and take advantage of your rewards credit card as well. Doing all of your holiday shopping using your JetBlue Card from American Express by American Express can also come in handy when you use it to rack up frequent flyer miles. You can earn one point for every dollar that you spend. Use your card at your local restaurant, pub, or movie theatre and earn two points for every dollar that you spend. Before you know it, you have earned enough points to take a trip to Las Vegas or better yet, Hawaii. Take the value of the airline tickets and subtract it from what you have spent on holiday shopping and you will come up with your true net total spent on gifts.

You can use your credit card to save money whether you use a 0% Credit Card, a rewards credit card or even a prepaid card. Be creative with your shopping and use your credit cards in places where it suites you best. If you earn double rewards points by eating at restaurants then give Chili’s gift cards to your loved ones this season. Use the double points towards your next vacation. Avoid spending time and gas looking for a parking space at the mall by shopping online with your {prepaid card}. No matter how you look at it, there are many ways to save money this season using your plastic!

Labels: 0% credit card, prepaid credit card, prepaid credit cards, Rewards Credit Card, Rewards Credit Cards

Consumer Groups Lobby for Gift Card Bill of Rights

Consumer advocacy groups have come together to come up with a “Gift Card Holder’s Bill of Rights”. Gift cards have become popular within recent years. Everyone from Target to Chili’s offers some form of gift card. This year holiday shoppers will purchase 100 billion dollars worth of gift cards. As the economy worsens, more people will give away gift cards and prepaid credit cards to loved ones.

There are two popular types of gift cards available. Gift cards offered by large retailers like Chili’s or Target are called closed loop cards. Open loop cards are those prepaid cards issued by banks or credit card companies.

The National Consumers League wants both open and closed loop credit cards to adhere to the following guidelines:

1) Gift Cards should not expire.
2) The value of the cards should not be reduced by unnecessary fees.
3) The purchase price of a gift card should be 10 percent of the purchase value and not exceed $5.00.
4) Card replacement fees should be 10 percent of the purchase value and not exceed $2.00
5) A card should become redeemable in cash once it reaches a balance of $5.00.
6) Balance inquires should be free of charge
7) Gift card accounts should be held separately from the issuer’s funds. This money should be held in trust separately and refunded to the owner should the issuer go bankrupt.

There are definitely some important points covered in the “Gift Card Bill of Rights”. I do feel that it is important for prepaid funds not to be commingled with the operating funds of the gift card issuer. As a small business owner, I know how money from one thing gets used to cover another. In the case of a gift card issuer going out of business, consumers should be able to redeem unspent funds on their cards. Without the creation of separate accounts, many people who are holding on to a gift card risk loosing their available credit.

These types of issues need to be addressed; however, the government should not regulate what gift card issuers charge for the use of their cards. Regulation is important, however, we can not over regulate free markets and decide how much profit a company should make.

Gift cards should not be allowed to expire either. A gift card should be as good as cash at any of the retailers who are participating. Cash does not have an expiration date, neither should a gift card or prepaid credit card.

Any regulation imposed on our economy should benefit both the businesses who have to adhere to the laws and the consumers it is supposed to benefit. It should definitely be law that gift cards should not expire and that money should be held in separate account should the issuer go out of business. However, we should not be telling companies how much they can or can not charge for fees. There needs to be a balance between what is going to be fair for consumers and what is going to be fair for businesses.

Labels: gift card bill of rights, gift cards, news, prepaid credit cards

Prepaid credit cards make an excellent gift for holiday shoppers. There are many advantages to giving friends and loved ones a pre paid credit card over traditional gifts. First of all, pre paid cards can be used for a wide variety of purposes. You can use your pre paid credit card to purchase just about anything. The gift recipient can use it to purchase new clothes or apply the money towards a vacation. College students will be very happy to receive pre paid credit cards as gifts also. This person can use their gift card at the grocery store or even at the student book store. Pre paid credit cards will come in handy especially for those who are having financial difficulties. These people can use their cards to pay bills or even put it away for an emergency. Prepaid credit cards are an even better option over using a particular retailer’s gift card. The recipient is not limited to purchases at one particular place and can use it from anywhere to the movie theatre to the emergency room.

A prepaid credit card is also a gift that can keep on giving should the giver decide to re fill it. Most prepaid credit cards can have more money added to the balance simply by going to local retailers who sell the cards. You can also go online and use another credit or debit card to refill the balance. Some prepaid credit card offers will even send you text alerts when your balance reaches a certain level. Other popular features include the ability to check your recent transactions online as well as your balance.

Another important feature to consider when purchasing your prepaid credit card is the balance limit. Some prepaid cards have a $1000 limit while others can go up to $10,000. It is also important to know that prepaid credit cards are not insured by the FDIC like checking or savings accounts. Therefore, it is probably not wise too keep much money in a prepaid credit card acount. The FDIC is currently looking into extending coverage to prepaid cards as well, but until then there is no FDIC insurance provided.

There are a variety of prepaid Mastercard and Visa credit cards. However, not all pre paid cards are equal. Some pre paid credit card issuers will charge a monthly fee while others will charge you every time the card is used. The Vision Premier(SM) Prepaid Visa card is a good example of a prepaid card. They charge a one time $9.95 activation fee and a weekly fee of $0.95. Vision Premier will waive this fee if you are enrolled in their direct deposit program. They also charge you $1.95 for every time you withdraw money from any ATM machine. In addition, they also charge you $0.95 every time a transaction involves the entry of your personal identification number (PIN). Most gasoline stations require you to enter your credit card’s PIN number every time you pay at the pump. This prevents people from using stolen credit cards to fill up their gasoline tanks. The Vision Premier(SM) Prepaid Visa

will also allow you to deposit money to it at many worldwide popular locations including Western Union, ACE Cash Express and MoneyGram.

Many prepaid credit cards also come with a rewards program. For example the Wired Plastic Prepaid Visacard offers one point for every dollar spent on the card. These points can then be redeemed towards other offers like prepaid cellular time, music downloads and even cellular ring tones. Some card like the The Baby Phat Prepaid Visa RushCard even offer a cash back rewards program.

The Holiday season usually brings out the Chris Cringle in all of us. For those who are stumped about what to give a loved one this holiday season, consider giving a prepaid credit card. Anybody will be happy to receive a gift that can be used for just about any purpose. This year don’t just give your friends or loved ones a $50 gift card to Chili’s. Give a prepaid card that can be used at other places as well. Perhaps, the person you give the Chili’s card to prefers Red Lobster, or better yet going on a diet. Instead the person you give the prepaid credit card to will be able to choose what he or she wishes to do with that money. Prepaid credit cards will make perfect gifts for anyone from your niece in college or your mom and dad in Florida.

Labels: apply for a credit card, business credit cards, credit card offers, pre paid credit card, pre paid credit cards, prepaid credit card, prepaid credit cards